HPSIDC earns Rs 5.5 crore profit

Shimla, June 27 (UNI) Himachal Pradesh State Industrial Development Corporation Limited (HPSIDC) has earned a net profit of Rs 549.42 lakhs during the last financial year.

This was stated by Chief Minister Prem Kumar Dhumal while presiding over the Board of Director's meeting of the HPSIDC, General Industries Corporation and Nahan Foundry held here under his Chairmanship today.

The Chief Minister congratulated the management of the HPSIDC and hoped that other public sector undertakings would take inspiration from its achievements.

"The state government is making all out efforts to bring all its PSUs running under losses out of the red by diversifying the activities of the same so that more income generating avenues are explored not only to meet its requirements but also earn profit," the Chief Minister said.

He said that need had emerged to meet the forthcoming challenges in the global marketing with strict professional approach to keep pace with the rest of competitors.

"Some of the state PSUs have strived hard and emerged profiteering units by adopting commercial approach in all their activities. Other undertakings should also adopt the same strategy so that all such ventures are made viable." He directed the authorities to deliver the people quality services and also explore possibilities of diversifying their activities to add to their regular income.

He said that best utilisation of the manpower available with the organisation needed to be ensured so that it could add to income generation activities of the same. He said that if required services of the professionals could also be considered for requisitioning.

Principal Secretary Finance Dr Arvind Mehta took stock of the financial status of all the three undertakings and advised the management to check wasteful expenditure.

UNI XC PS BP2001